Canary Capital Files First Spot ETF for Trump’s Meme Coin

Donald Trump ETF Trump The filing, submitted Tuesday, differs from earlier attempts by other ETF providers, which structured their proposals under the Investment Company Act of 1940. Crypto Journalist Amin Ayan Crypto Journalist Amin Ayan About Author Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has... Author Profile Share Copied Last updated: 3 minutes ago Crypto fund manager Canary Capital has filed to launch the first U.S. spot exchange-traded fund (ETF) tied directly to President Donald Trump’s meme coin, TRUMP, marking a Wall Street first. Key Takeaways: Canary Capital has filed for the first U.S. spot ETF directly backed by Trump’s meme coin under the Securities Act of 1933. Analysts doubt SEC approval due to the absence of TRUMP futures, though a diversified ETF remains possible. If approved, the ETF would mark a historic first for a sitting president’s personal crypto project amid volatile token performance. The filing, submitted Tuesday, differs from earlier attempts by other ETF providers, which structured their proposals under the Investment Company Act of 1940. Those applications would have invested in offshore subsidiaries holding TRUMP tokens alongside safer assets such as U.S. Treasuries. Canary’s TRUMP ETF Filing Pledges Full Token Backing. Notably, Canary’s application was filed under the Securities Act of 1933, meaning the Canary TRUMP Coin ETF would be backed entirely by reserves of TRUMP tokens held under regulated custody. ETF experts quickly questioned the likelihood of approval. Bloomberg’s Eric Balchunas noted that spot ETFs typically require a futures market for the underlying asset to trade for at least six months before the SEC signs off. No such TRUMP futures products currently exist. Still, Balchunas suggested TRUMP could eventually appear in a diversified ETF filed under the 1940 Act. The SEC’s review of the application comes as the agency faces unusual circumstances. Since January, the regulator has been seen as taking a softer approach to crypto under Trump’s leadership. In February, Republican SEC commissioner Hester Peirce remarked that the TRUMP token likely fell outside the SEC’s jurisdiction. Soon after, the commission declared that all meme coins were not securities, placing them beyond its direct oversight. If approved, Canary’s product would be the first ETF in U.S. history linked directly to a sitting president’s personal crypto project. Analysts say such a move would cement meme coins as part of mainstream financial markets while raising unprecedented questions about political influence over financial regulation. The TRUMP token itself has endured steep volatility, plunging over 70% since its January debut. Despite that decline, analysts predict the SEC will approve at least some spot meme coin ETFs before the end of the year, though the regulator has delayed final decisions on several recent applications. Canary’s filing underscores how quickly meme tokens are moving from internet subculture into regulated financial products. Grayscale, Bitwise Among Firms Updating Filings for Spot XRP ETFs. A wave of asset managers filed updated paperwork for spot XRP ETFs on Friday, signaling a renewed push to secure approval from the SEC. Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares,... https://cryptonews.com/news/canary-capital-files-first-spot-etf-for-trumps-meme-coin/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple